There are still many outstanding issues regarding Regional Rates says South Down Independent MLA John McCallister who was speaking in an Assembly debate.
Mr McCallister welcomed the continuation of the Small Business Rate Relief and welcome a commitment by the Finance Minister that revaluation would not happen more regularly in the future.
[caption id="attachment_52191" align="alignleft" width="300"]
South Down Independent Unionist John McCallister addresses rates issues in a Stormont debate.[/caption]
He added: “The retention of the Small Business Rate relief is vitally important for many businesses in South Down. I have fought hard for its retention and I am glad that the Minister has extended the policy for another year.
“This has saved small businesses millions of pounds across this constituency.
“Despite this, it is an uncertain time for many businesses as people grapple with the realities of revaluation.
“I questioned the Finance Minister on the wisdom of leaving such a lengthy time span between revaluations. 2002 is a long time ago and enormous changes to rental values have occurred in the intervening 13 years. The timing has also been unfortunate coinciding with Rates convergence to new Councils.
“I informed the Assembly debate about an extremely insightful presentation from the Northern Ireland Independent Retail Trade Association (NIRTA) which evidenced the difficulties businesses are facing with regards revaluation. Some retailers are looking at a 70% increase in their Bill, for example.
“The Minister did assure me that he supported a policy of revaluation every five years to provide much needed stability and certainty for businesses going forward.
“The retention of empty premises relief is also extremely welcome as our town and village centres are still under immense pressure. Recent economic figures show the retail sector as one of the worst performing areas of our economy,” explained Mr McCallister.
]]>
